Oversees the development, integration and administration of Corporate Risk services and programs of the Health System. Directs and implements financial and other strategies. Responsible for monitoring and communicating the financial impact of certain risks to the organization Ensures quality improvement initiatives and the integration of the Health System’s values are attained.
1. Strategic planning, consistent with the evolving needs of the organization:
- Initiates and develops the strategic plans, policies and procedures for Corporate Risk.
- Identifies and develops new business initiatives and opportunities consistent with the mission and strategic direction of the Health System.
- Establishes and measures organizational performance against goals and objectives.
- Plans and directs the utilization of information resources to support the strategic direction and operation of the Health System.
- Oversees the planning, organization and direction of Corporate Risk within the Health System, including: growth objectives, program goals, capital requirements, space allocation, and technological equipment and information systems (IS) purchases.
- Utilizes knowledge of risk issues, current and future needs of the organization, understanding of financial impact to create new risk programs to support the organization’s mission and reduce costs.
2. Financial Management.
- Develops and oversees budgets for the department, insurance and self-insurance premiums, and captives.
- Demonstrates cost avoidance and/or savings thru initiatives.
- Works closely with external actuarial firm to include accurate projections of financial liabilities for retained risks.
3. Operational Performance
- Ensures active communication with all external and internal constituencies to establish strong relationships that are complimentary and consistent with organizational goals and strategic needs.
- Oversees and ensures peak performance in:
a. Commercial insurance negotiations terms and conditions and cost and value to the organization;
b. Due diligence reviews of potential new acquisitions, partnerships etc.
c. Determining opportunities for and the operations of Risk Purchasing Groups;
d. Captive insurance companies;
e. Reinsurance, collateral agreements and other insurance related agreements;
f. Integration of new acquisitions into risk programs;
h. Review of contract terms and identification of risk and transfer of risk;
i. Monitoring and determining the impact of government legislation, case law etc.
j. Loss control;
k. Enterprise Risk Management Program;
l. Documentation of departments work;
m. Data verification and data analysis;
n. Maintenance of department operating manual.
- Develops line of communication with key stakeholders within the organization.
- Ensures communication of key risk information and data to appropriate parties.
- Presents updates, overviews and analysis of various programs and progress to executive and senior leadership, trustees and various groups and sites to inform and further promote initiatives.
5. Standards Compliance
- Ensures compliance with federal, state and local rules, regulations and tax laws.
- Oversees the development, review and distribution of reports and procedural statements which ensure regulatory and policy compliance.
- Keeps abreast of federal regulations, congressional actions and deliberations and state and local activities.
6. HR Development
- Develops and oversees implementation of current and long-term Human Resources goals and objectives for organizational development, recruiting, compensation, training and development and employee relations.
- Oversees protocols to promote employee excellence and opportunity.
7. Business Development
- Develops relationships with peers within the industry, consultants and industry associations.
8. Performs related duties, as required.
- Master’s Degree in Business Administration, Healthcare Administration or related field, required.
- Minimum of ten (10) years progressively responsible senior management experience in a related field, required.
- Strong verbal and written communication skills.
- Ability to prepare and present reports to various stakeholders within the organization.